Last updated: 04:30 PM ET, Tue April 26 2016

Global Growth Means Double The Revenues For The Likes Of Uber, Lyft

Travel Technology | Gabe Zaldivar | April 26, 2016

Global Growth Means Double The Revenues For The Likes Of Uber, Lyft

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Sharing is no longer about caring. It’s a means towards $6.5 billion in revenue, which is just what companies like Lyft and Uber will enjoy by 2020.

That’s the latest finding from Juniper Research, which hunkered down and studied the sharing economy and its momentum headed into the backend of the decade.

According to the report, ride-sharing services account for $3.3 billion in revenues globally in 2015.

And as we have already spoiled, that number is estimated to double by 2020 thanks to a number of factors, most importantly seems to be the increasing likelihood that services like Uber and Lyft continue to grow and stretch their reach globally.

Juniper Research points to one recent announcement that typifies what we might see over the coming few years.

The study states: “Also, Uber’s February announcement that it is to launch its UberMOTO service in India, opens it to an enormous potential market - the city of Bangalore alone has 3.5 million registered motorbikes, and India already allows motorbike taxi bookings through applications in two states.”

A graphic suggests that is how things play out into the next decade.

In 2015, the Americas accounted for 56 percent of the revenues for shared transport platforms, which is destined to decrease to 40 percent by 2020.

In that time the European sector should increase by four points while the market designated at “Rest of the World” goes from a 22 percent market share in revenue to 34 percent by decade’s end.

Essentially, there is a great demographic out there that remains untapped. And, presumably, there is a viable infrastructure that is able to embrace the ride-sharing technology and make it work for its particular corner of the world.

The obvious notion remains true: Ride-sharing apps and services aren’t going anywhere. Well, what we mean is they are staying for a great long while.

Because they are precisely going everywhere, taking business to the countries and cities that crave a simple transportation solution.


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